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Why CPAs can’t wait on automation tools

Hosted by Jeff Drew

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate. Find out more in this podcast with Dan Griffiths, CPA, CGMA, a partner with Tanner LLC and head of the firm’s client accounting services business, Tanalytics.

What you’ll learn from this episode:

How machine learning and automation helped cut one business’s costs for transaction coding and bank reconciliations from $1,000 per new store location to $100.

The perils of ignoring the speed of change (the baseball stadium analogy).

The basic continuum of automation from Excel macros to Commander Data and where accounting firms should be operating today.

A few specific tools that CPAs should know and how much they cost (and, yes, some are in the price range for small and midsize firms).

How to structure and price an automation project so that the firm makes money even if the automation doesn’t work as planned.

Why you should not include a technology charge in your pricing.

Play the episode below:

To comment on this podcast or to suggest an idea for another podcast, contact Jeff Drew, a JofA senior editor, at Jeff.Drew@aicpa-cima.com.